Showing posts with label Brazil. Show all posts
Showing posts with label Brazil. Show all posts

Wednesday, March 23, 2011

The First Family is in Rio

The First Family accompanied the President on his economic goodwill tour - now up, Rio.


US President Barack Obama (L), First Lady Michelle (back-R), and their daughters Malia (R) and Sasha (back-L) descend from the presidential airplane as they arrive in Rio de Janeiro, Brazil, March 19, 2011. Obama arrived in Brazil Saturday, calling for bolstering economic ties between the United States and Latin America to open new markets and create more jobs.
---- VANDERLEI ALMEIDA/AFP/Getty Images

The President and First Family visited the CITY OF GOD area in Rio.



 


U.S. President Barack Obama, First Lady Michelle Obama and their daughters Sasha (L) and Malia tour the Christ the Redeemer Statue on Corcovado in Rio de Janeiro late March 20, 2011.
-----REUTERS/Jason Reed

Friday, November 27, 2009

What a Left-Wing Presidency Looks Like

Hat tip to the Open Left blog for first alerting me to this item.

The American right wing’s accusations of President Barack Obama and his policies as Socialist has always baffled me. Because Obama has demonstrated through his Cabinet appointments, attempts at bipartisanship with obstructionist Republicans, and actual policies that he is no Socialist – nor even a leftist. He is very much a traditional American Democrat with strong free-marketer, corporate leanings.

For a portrait of what a strong, Left-leaning presidency of a large country and major economy might look like it would be much better to set one’s sights overseas towards someone like President Luiz Inácio Lula da Silva of Brazil.

From Spiegel Online:

Brazil's President Lula: 'Father of the Poor' Has Triggered Economic Miracle


His supporters liken him to US President Franklin D. Roosevelt, who dammed the Tennessee River in the 1930s to provide electricity to the region and who launched the New Deal, a massive investment program to overcome the Great Depression. But critics see the undertaking as a massive money pit…

Now he is both the darling of bankers and the idol of the poor. With the so-called worker-president at its helm, Brazil is attracting investors from around the world. Jim O'Neill, the chief economist at Goldman Sachs, invented the acronym BRIC, for the emerging economies of Brazil, Russia, India and China, and predicted a bright future for the South American giant. But his colleagues derided him. China and India certainly had prospects, but Brazil? For decades, the country was seen as a shackled giant, plagued by never-ending crises and inflation…

The country has repaid its foreign debt, and it has even become a lender to the International Monetary Fund (IMF). The government has accumulated more than $200 billion in reserves, and the Real is considered one of the world's strongest currencies. International experts foresee a decade of prosperity and growth for the country. Lula predicts that Brazil will be one of the five biggest economies on Earth by 2016, the year Rio de Janeiro hosts the Olympic Games. It will host the soccer World Cup in 2014…

All of Brazil is basking in the fame of its president who, less than seven years after coming into office, now enjoys an approval rating above 80 percent. The opposition has all but disappeared and the national congress has become submissive. Lula runs the country like a patriarch, so much so that his predecessor, Fernando Henrique Cardoso, is already accusing him of "authoritarianism" and warning that Brazil is on the road to state capitalism.

There is a kernel of truth to Cardoso's claims. Lula has never had any confidence in the market's ability to heal itself, and he sees the state as the framer of a new social order. He loves impressive projects and nationalistic gestures. He is a pragmatist, but he despises speculators. "White people with blue eyes" brought the world to the brink of financial ruin, he said recently. He meant bankers.

The financial crisis has only confirmed Lula's skepticism toward capitalism. Lula believes that Brazil coped with the crisis more effectively than other countries because the government took corrective action early on. According to Lula, fighting poverty and the equitable distribution of income cannot be left up to the market.


Full article at Spiegel Online.

This is my response to American free-market worshipping conservatives whenever they invoke “Socialism” in their accusations of the Obama administration. If they want to see what a leftist does once he has attained power they shouldn’t look to Obama. They should, instead, look at Lula and see what he has done for Brazil. And to see that perhaps a little bit of Socialism -- and I mean Socialism for real instead of pretend boogeyman Socialism that the American right likes to invoke -- would do the USA a lot of good.

Lula’s Brazilian success story is what real reform looks like and a portrait what real reformers do. It is what pushing through and delivering on a populist agenda looks like without compromising on one’s beliefs and commitment to ordinary people as one’s primary constituency. Lula is an example of how an unabashed leftist skeptical of capitalism and its potential to spread wealth evenly among the population rules as President. His success is a shining example of the power of government and the economy harnessed for the interests of ordinary people primarily rather than speculators and bankers.

Monday, November 19, 2007

Brazil, the New Oil Superpower

Hat tip: HuffingtonPost.com

From BusinessWeek.com:

Brazil, the New Oil Superpower
State-run Petrobras' "monstrous" new oil find has wide-ranging implications for the South American country, the oil majors, oil services providers, and beyond
by Joshua Schneyer


In a recent radio broadcast, Brazil's President Luiz Inácio Lula da Silva said he's convinced a "higher power" has taken a shining to Brazil. That, he said, might explain the providence of state-run oil company Petrobras (PBR), whose colossal new oil discovery could transform Brazil from a barely self-sufficient producer into a major crude exporter.

Petrobras announced Nov. 8 it has found between 5 billion and 8 billion barrels of light oil and gas at the Tupi field, 155 miles offshore southern Brazil in an area it shares with Britain's BG Group and Portugal's Galp Energy. Tupi is the world's biggest oil find since a 12 billion-barrel Kazakh field was discovered in 2000, and the largest ever in deep waters. Perhaps more important, Petrobras believes Tupi may be Brazil's first of several new "elephants," an industry term for outsize fields of more than 1 billion barrels.

Initially, Tupi will produce about 100,000 barrels a day but may ramp up to as much as 1 million before 2020—more than the biggest U.S. field in Alaska's Prudhoe Bay, says Hugo Repsold, Petrobras' exploration and production strategy manager. "It's monstrous," says Matthew Shaw, a Latin America energy analyst at consultant Wood Mackenzie in London.

Blocking Private Companies
Given the discovery's magnitude, Tupi already is changing how Brazilians think about their oil riches. It even tempts the kind of oil nationalism that has prompted Venezuelan President Hugo Chávez to expropriate oil reserves and production infrastructure in Venezuela from oil majors ExxonMobil (XOM) and Chevron (CVX).

Indeed, a day after Petrobras announced the Tupi discovery, Brazil said it would remove 41 oil exploration blocks, located near Tupi, from an upcoming auction of potential oil fields open to private oil companies. Brazil still plans to offer 271 blocks for bidding, however, the government said it's reanalyzing whether, and how, to share Brazil's new oil riches with private companies, after a decade of relatively open concessions.

Brazilian oil regulator ANP says it's drafting a new oil bill to present to congress that would change energy laws, perhaps limiting the role of private companies in Brazil's subsalt. Additionally, Lula says Brazil should join OPEC once Petrobras begins oil output from Tupi, around 2011.

"This looks to have triggered a major debate about the role of state vs. private oil companies here," says Sophie Aldebert, a director at Cambridge Energy Research Associates. "But Brazil is going to want to continue working with private companies."



Rest of article is here.


This has plenty of ramifications. First of all, this is yet another country in this hemisphere with oil, but not tied to the United States.It's not as hostile as Venezuela, but it's far from being a lackey of the USA. Second, this could be a true financial boom to Brazil, who weaned itself off of depending upon foreign oil awhile ago. I bet most folks don't know that Brazil fuels its cars mostly with SUGAR. So, the oil that they produce doesn't have to be consumed by its people - they can sell it to others, making more money for Brazil. Brazil's economy is already diversified, so it's not dependent upon oil being a one trick pony economy.